E-commerce? On-the-go mobile payment? Swiff, developed by SCCP Payment Services, is a mobile payment platform that allows merchants to conduct secure and quick cashless payments using mobile devices (such as the ubiquitous iPhone and Android devices) as credit/debit card terminals. This is done via a plug-in device and an app that can be easily downloaded on the various operating systems' app markets. It already works on the iOS devices, Android and BlackBerry devices and will soon be available on Window-based mobile devices. Credit cards accepted for now are: MasterCard, Visa and American Express. Here's a quick look at how it works:

Swiff also allows both merchants and customers to track the devices and the exact location of transaction. Other than convenience and faster transactions, it is also big on customer loyalty. A simple swipe of the card via the device, card data - this will not be stored within the smartphone or tablet - will be instantly encrypted and transmitted to the participating banks. To further strengthen loyalty adoption, Swiff comes with a complimentary digital loyalty and mobile voucher platform that can be further harnessed by merchants and banks alike. In Etienne Van den Bogaert's, Chief Operating Officer, SCCP Payment Services Holding Pte Ltd, own words: “Businesses improve their efficiency and reduce their costs through lightweight infrastructure, faster transactions and collection of credit card payments. Greater speed and convenience also bring about stronger customer loyalty, increased business opportunities and faster return on investment.”

However, Swiff isn't exactly new in Singapore. A “beta” version has been circulating and used by select merchants across the country since June 2011. The technology has since gone live in both Singapore and Malaysia, with plans to penetrate the South East Asian markets, Africa, America and Europe. For now, the company is currently working to bring it to Sri Lanka and Indonesia in the near future.

Another aspect of mobile payment that they working on is its peer-to-peer transaction platform, a process in which consumers have the power to pay merchants on their own, and the company hopes to launch it before the end of the year.